General Mills Can Pour It On

Shares look all the more appetizing after the maker of Cheerios and other popular food brands announced strong quarterly results.

General Mills brands, from Cheerios to Betty Crocker, are perennial favorites, but the company's stock has badly trailed the Standard & Poor's 500 in the past year. However, stronger-than-expected quarterly results are lifting shares. And that momentum may well continue.

Before Wednesday's opening bell, General Mills (ticker: GIS) announced fiscal first-quarter earnings of $548.9 million, or 82 cents a share, up from 61 cents, a year earlier. Excluding one-time items, per-share earnings rose to 66 cents from 64 cents,...